Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    110 W Third Ave Carthage, TN 37030

    • Retail space
    • 8,528 SF
    • 0.07 lot acres
    For Sale
    View listing
    $878,900
    Last Sale
    May 21, 2021
    $295,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0833528
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • LIGA Homes / Contractor
    • The Rose Building / Event Venue

    Property Details for 110 W Third Ave

    Year built
    1930
    Lot size
    0.07 lot acres
    Property size
    8,528 SF
    Zone code
    C-1
    Property type
    Retail space
    APN
    080054H A 02000
    APU
    080054HA02000

    Description

    This exceptional 5,388 square foot mixed-use property in Carthage, TN, presents a unique investment opportunity. Located on a 0.07-acre lot at 110 Third Ave W, the building seamlessly blends a thriving event space with a luxurious residential loft. The ground floor encompasses a fully equipped event venue, perfect for weddings, corporate functions, or private parties. It boasts a modern commercial kitchen, a sophisticated sound system, an inviting bar/lounge area, and a spacious event hall with a capacity of 211 guests. Upstairs, a stunning 2,694 square foot, three-bedroom, two-bathroom loft apartment offers breathtaking city views and a charming outdoor veranda. This versatile space is ideal for an Airbnb rental or a private residence. The property's prime downtown location and dual-purpose functionality make it an attractive investment for both business owners and those seeking a unique lifestyle opportunity. The asking price is $995,900. This turnkey operation offers immediate income potential and significant long-term growth prospects. The combination of a successful event venue and a high-demand residential space creates a truly rare and valuable asset in the Carthage market. Don't miss this chance to acquire a property with exceptional earning potential and a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $346,000
      Market price range: $346k - $1.03M
      AI Estimate
      $368,000
      Market price range: $293k - $1.01M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carthage
    County
    Smith
    State
    Tennessee
    Longitude
    -85.9524
    Latitude
    36.2523
    CBSA code
    34980
    CBSA name
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $10,000
    $96,280
    $106,280
    -
    $25,000
    $240,700
    $265,700

    Comparable in this City

    • Value Estimation
      $245,000
      408 SF

      38 Dixon Spgs Hwy

      RETAIL STORES (PERSONAL SERVICES) • 408 SF
      38 Dixon Spgs Hwy, Carthage, TN 37030-1063
      View Details
    • Value Estimation
      $230,000
      2,030 SF

      71 Cookeville Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,030 SF
      71 Cookeville Hwy, Carthage, TN 37030-1853
      View Details
    • Value Estimation
      $215,000
      2,052 SF

      327 Main N St

      RETAIL STORES (PERSONAL SERVICES) • 2,052 SF
      327 Main N St, Carthage, TN 37030-1235
      View Details
    • Value Estimation
      $240,000
      2,388 SF

      148 Read Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,388 SF
      148 Read Ave, Carthage, TN 37030-1959
      View Details
    • Value Estimation
      $220,000
      5,304 SF

      315 Spg St

      RETAIL STORES (PERSONAL SERVICES) • 5,304 SF
      315 Spg St, Carthage, TN 37030-1435
      View Details
    • Value Estimation by Request
      3,848 SF

      118 3rd W Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,848 SF
      118 3rd W Ave, Carthage, TN 37030-1233
      View Details

    Similar Nearby for Sale

    • New
      $228,000
      Pending

      Versatile Commercial Building in Carthage

      3,900 sq ft commercial building with high visibility.
      135 Dixon Springs Hwy, Carthage, TN 37030
      View Details
    • $878,900
      5,388 SF

      Dual-Purpose Commercial Building in Carthage

      Spacious commercial building with event space and residential loft.
      110 W Third Ave, Carthage, TN 37030
      View Details
    • $995,900
      5,388 SF

      Downtown Carthage Mixed-Use Gem

      Event Venue & Luxury Loft
      110 Third Ave, Carthage, TN 37030
      View Details
    • $359,900
      1,500 SF

      New Duplex with Modern Amenities

      Newly constructed duplex featuring modern amenities and convenient location.
      209 Colonial St, Carthage, TN 37030
      View Details
    • $439,900

      Updated Ranch Home with Guest House

      Updated ranch home featuring a guest house and convenient location.
      604 College Ave E, Carthage, TN 37030
      View Details
    • $349,700

      Cumberland River View Land

      24.5 acres overlooking Cumberland River and Cordell Hull Lake.
      6 Turkey Creek Hwy, Carthage, TN 37030
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    110 W Third Ave
    Carthage, TN 37030
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.